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Black money has decreased under Modi

July 24, 2018

In the wake of the criticism that black money stashed abroad has only increased under the Narendra Modi regime, Interim Finance Minister Piyush Goyal on Tuesday hit out at Congress President Rahul Gandhi, presenting some "facts".

"Let me state the facts. Indian deposits in Swiss banks have, in reality, come down by 34 percent to USD 524 million in 2017," the FM said.

He further said, "In the quarter October-December of 2017, there was an overall reduction of 44 percent, based on locational banking statistics."

Citing a media report, Goyal tweeted out, "Dear Rahul Gandhi, you JUMP WITH JOY at every false news that puts India in a bad light. Now the truth is out - there has been 80% reduction in 4 years in Swiss bank deposits & 34% in last 1 year alone. Why couldn't you crack down on black money since 2004?"